Simple Interest Calculator: Calculate Interest Earned After 10 Months

How Much Interest Will Be Earned After 10 Months?

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Question

If you deposit $345 into an account paying 5.45% per year simple interest, how much interest will be earned after 10 months?

Answers

Explanations

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A

The question only asks for the earned interest, not the total amount in the account. On the BAII Plus, press 345 x 0.0545 x 10 divide 12 = to see the answer. On the HP12C, press 345 ENTER 0.0545 x 10 x 12 divide to see the answer.

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